New Delhi: Union Minister of Commerce and Industry Piyush Goyal on Monday said that the much-awaited Bilateral Trade Agreement (BTA) between India and US will be finalised by July.
Earlier last week, US Ambassador to India Sergio Gor, speaking on the US-India trade deal, said, "We are 99% there; the last 1% we are working on. We are very optimistic that this will get done. It will be a win-win situation for both the US and India."
Goyal said the two sides are working to close the remaining issues and could sign an initial deal by the middle of July, according to an India Today report.
If the timeline mentioned by the Minister holds, India and the United States could announce the first tranche of the agreement by mid-July.
The first tranche would mark the most significant trade breakthrough between India and the United States in years.
Why the deal matters?
For American businesses, the agreement could provide better opportunities in one of the world's fastest-growing major economies.
For India, improved access to the US market could support exports at a time when global demand remains volatile.
